U.K. Unveils $285 Million Funding to Boost Technology Industry
- 120 million pounds to aid universities in “tech transfer”
- Investment comes as Brexit casts doubt on London as tech hub
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The U.K. government will invest 220 million pounds ($285 million) in funding to support the country’s technology industry.
The package includes 120 million pounds to encourage universities to collaborate in technology transfer and convert research into viable businesses, according to a statement by the ruling Conservative Party before its annual conference in Birmingham tomorrow. The remaining 100 million pounds will go toward expanding a partnership aimed at turning British innovations in life sciences into commercial ventures.